Challenges Faced by Small-Medium Sized businesses in Kenya

The highlights some of the challenges that businesses face in Kenya, including corruption, lack of access to finance, and the high cost of living. It also discusses the country's infrastructure challenges, such as unreliable power supply, as well as the legal and regulatory hurdles that can make it difficult for companies to operate in the country. Finally, the article provides some recommendations for businesses looking to navigate these challenges and succeed in Kenya's rapidly growing economy.

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Key Takeaways:

1. Corruption is a significant challenge in doing business in Kenya, with bribery and fraud being common practices that hinder fair competition and can lead to legal issues.
2. The country's bureaucratic red tape can be frustrating and time-consuming, making it difficult for businesses to obtain necessary licenses and permits.
3. Poor infrastructure, including inadequate road networks and inconsistent power supply, can cause significant disruptions and increase operating costs for businesses.
4. Access to finance can be a challenge, particularly for small and medium-sized enterprises, due to high interest rates and a lack of collateral.
5. Understanding the cultural and social norms of the local market is essential for success, and building relationships with key stakeholders is critical in navigating the business landscape in Kenya.

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